Strict Buy and Sell Rules Today
After yesterday's debacle, it is time to stop the bleeding. I began this blog after I got smoked badly twice in early March and spent the rest of that month having to make money back. I can't let that happen this month.
So today, I am starting all positions with 200 shares only. If I am in the money in a trade I will allow myself to buy 100 more shares. That's it. I'm starting over, if you will. Trading light... float like a butterfly, sting like a bee.
I was working on my next "history" post last night. I'm at a point in the history where I'm studying for the Series 7 and papertrading once a week or so at the office. Everything then was so wide-open with possibility, there was so much potential. Anyway, just thinking back on it gave me a sense of hope.
Sometimes I feel like I've already written the end of my stock trading story. Based on my performance since December that the ending goes something like, "And then the hybrid market came, he couldn't adapt, and blew up." But I can actively work to change that ending. It doesn't have to be the meteor that mades this Dinosaur go extinct.
2 comments:
hybrid issues- try trading only nasdaq stocks for 2 days and see how it feels. or if u trade nsye- put in resting offers higher and never use market orders again- just cross w/ a limit how far u are willing to chase.
gator
Thanks Gator,
I think after earnings season I'm going to dig down and find the Nasdaq stocks that meet the volume requirements of stocks that I like to trade and also figure out their industries. I really am so exclusive to the NYSE that I don't know the stocks. It will be a late spring project for me.
As for limits, I am using them much more than I used to... still getting used to the change. I'm really partial to market orders. Slow to change here but I'm working on it.
Thanks for the help. Good luck today,
-DT
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